Snap shares dropped as much as 20% after hours on Thursday as the company reported first-quarter results that missed analysts’ expectations on Revenue. Snap's first-quarter revenue declined 7% from $1.06 billion during the year-earlier period, while the net loss narrowed from $359.6 billion, or 21 cents per share, in the first quarter of 2022 to $328.7 billion, or 22 cents per share. Snap's free cash flow was $103 million in the first quarter, representing a nearly 3% year-over-year decrease.

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